We use cookies to customise content for your subscription and for analytics.If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.

On March 29, 2011, the U.S. Court of Appeals for the Third Circuit, in In re: DVI, Inc. Securities Litigation,1 ruled that where investor plaintiffs sought to pursue a class action against a company's outside law firm accountable for behind-the-scenes contributions to an apparently fraudulent public filing, the investors had to show the deceptive conduct was publicly attributed to the law firm in order to invoke the "fraud-on-the-market" presumption of reliance